The world's emerging financial steamroller, Ripple, recently disclosed that it is selling about 33% of its stake in MoneyGram. It is the first sale of these shares since Ripple invested in the popularly known U.S. remittance company in 2019.
Data retrieved from Ripple's filing with the U.S. Securities and Exchange Commission revealed that Ripple owns 8.6% of the outstanding shares in Moneygram or 6.22 million shares, including a warrant to purchase an additional 5.95 million shares for a total equity position of 12.2 million shares or 17% of MoneyGram outstanding shares.
Ripple announced that it will sell about 4 million shares, approximately 33.3% of its entire stake. Following this sale, the fintech company will still hold at least 3.22 million shares or 4.44% of MoneyGram.
Read the full story at: nairametrics.com.